When viewed from the physical building people will easily equate the condotel with an apartment, which is a multi-story building whose interior consists of room units for sale and rent. The difference between a condotel and an apartment is usually equipped with facilities like a five-star hotel, such as a sauna and spa, bar, café, gym station, swimming pool, Jacuzzi, and children’s playground. In short, the condotel is also equipped with supporting facilities that prioritize the comfort of guests. In the meantime, if you’re also looking for a good condo for your investment, we recommend you to take a look at the Parc Komo condo.
Although it has been bought by investors, the management of the condotel is still handled by the management, as well as promoting its units so that tourists are interested in staying there. Or it can be briefly concluded that a condotel is a room unit that is owned by individuals but is leased with the aim of benefiting from rental rates.
Condotel is equipped with facilities that are more luxurious than the apartment, so the selling price is certainly higher. This is why property investment requires a large initial capital although the projections are indeed for the long term. When buying the first time you do have to spend large funds but try to count in the future because the price of this property continues to increase every year especially if you are in a popular tourist location.
Although condotels purchased cannot be privately owned, but you have a fairly long tenure of 30 years. During this time you certainly can return the investment repeatedly. Condotel is also a practical investment property that is not complicated because all its management, including design, maintenance, promotion, and so on has been handled by the management of the hotel. You just sit sweetly at home and receive a profit from the rental rate every month.
Keep in mind that condotel rental rates are the same as hotels, so you will also get a faster profit. Try to compare it with an apartment rental system that is paid on an annual basis.